bitwise is launching bitb.you said, we heard88% of advisers who said they wanted to wait for an etf to be approved to allocate to that space. that moment has arrived. we heard demand from our cleaned base. we serve tens of thousands of investors across the country. how they will incorporate it will be different across different investors. what we see is a 1% to 5% allocation in portfolios where the volatility but low correlation of bitcoin can be added to the overallpicture. i think people think investing in bitcoin with the volatility that comes with that is a risky bet. most investors are sizing it in a way that is beneficial to the overall portfolio. they are not putting all of the money in bitcoin. the etfs make that straight forward and possible today. >> you mentioned people that think crypto and bitcoin is a risky bet. people at the s.e.c. is among those people not that longing ago. what changed to allow for the approval of the bitcoin etfs? >> the first filing for the bitcoin etf was ten years ago which

look for bitwise, my friends.all businesses to thrive, they need to be smart, efficient, savvy. making the most of every opportunity. that's why comcast business is introducing the small business bonus. for a limited time you can get up to $1000 prepaid card with qualifying internet. yup, $1000. so switch to business internet from the company with the largest fastest reliable network. give your business a head start in 2024 with this great offer. plus, ask how to get up to $1000 prepaid card with qualifying internet. >>> txdot, leaving the down side. with the sector coming off of its best decade, is it now time for one of the hottest trades to take a breather? venture partners of manhattan, welcome back, great to see you. we are looking at an ugly day, obviously, for mega-cap. but it only adds to the way that this is way -- the way it might be. >> people are using fear to try to convince investors to miss out on the biggest run in five years. i will say the same thing that i have been saying everything all-time. y

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katherine dowling, cco at bitwise asset management.ing up, one of the biggest players in taiwan's life insurance industry is optimistic ahead of a looming presidential election. our exclusive would nan shan life insurance chairman chung yin, next. this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh electricity and gas restrictors. sources say the review of their 58% stake is at an early stage. a transaction is sent to value at around $2.2 billion u.s. morgan stanley has a limited 155 employees to managing director, a smaller number of promotions for the firm's top rank than las t year. women account for 30% of promotions, and increases the overal

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look for bitwise, my friends.vel can feel like a nightmare. but for one in four americans with disabilities real nightmares happen every day no accessible bathrooms on most flights. 31 wheelchairs damaged daily by airlines. disrupting lives, sometimes for months. so many other barriers to safe travel. change isn't easy, but we can build the world's most accessible travel system. help us make sure airplanes connect everyone. to family and friends. to opportunity. to possibilities. we're easterseals. katie: we are about an hour into the u.s. trading session. simone foxman is tracking the moves. simone: the market has been fearing the prospect of strong economic data all week, we are seeing that potentially reverse because some of the later -- the latest data out, showing some of those cranks in -- cracks in the job market. the theme of the week has been negativity in the stock market. you're seeing some of the largest weekly drop in the s&p since october. and the nasdaq and russell 2000 since september. and the bigg

look for bitwise, my friends. stuart: there was a bombing in iran on the fourth anniversary of the assassination of general soleimani. trey yingst in tel aviv. this is very interesting story and development here. what do you have on it? reporter: hey, stuart, good morning. we're following the breaking news out of southeast iran where a pair of explosions rocked a ceremony killing 103 people and injuring dozens more. this was a memorial to mark the anniversary, the 4-year anniversary of qasem soleimani, the iranian general killed outside of the baghdad airport by a air strike. iranian officials are calling this a terrorist attack, but they stopped short of blaming anyone or any specific country. the development out of iran comes as israel is bracing for the possibility of a separate retaliation attack after a drone strike yesterday in beirut killed the hamas chairman and video shows damage to a building and car and lebanese media reporting that six other hamas members were killed as well including two commanders an

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bitwise, here it is trading here, the bitcoin etf. your thoughts on the trading.l us how the volume, the demand, the spread. >> the lowest cost bitcoin etf to market, 20 basis points on bit b. it has exceeded our expectations. tens of millions of dollars in trading in our etf. spreads are tight. there's a lot of demand on the buy side. you're seeing some slight premium. it's already the lowest cost way to access bitcoin i think american investors has ever had. >> 2.5 million shares changing hands. here is gray scale. 20 million over -- north of 20 million over the i-shares. you can explain this to us. there's huge demand, people are just coming in. why it's slightly wider spread. >> that's a pretty good spread when you pair it with bit bs expense ratio. demand on the buy side is why the ask is where it is. these etfs should trade a few pennies wide. some people are getting in early. >> a lot of people are asking me, don't these track bitcoin. explain why, it should track but this is not the right day. >> these will track very well over the long term. they're buyin

bitwise should have an account at coinbase with $237 million with bitcoin in it.y this works essentially. what we want to see next is what happens next, is we're going to be monitoring the tracking of these bitcoin etfs against bitcoin and bitcoin futures. everybody wants to know how good is the tracking going to be, and it should be good. it should get much better over the next couple days, as things tighten up here. next broader institutional investment or wirehouses, broker dealers, asset managers going to be comfortable recommending this? gary gensler has fired shots about this. some will, some won't. options. usually you're going to get options on these, and that will probably follow in the next several months. the bitcoin etfs right now, because the tracking is a good question for these. yeah, you see, so bitcoin is down about 2% today. it's been fluctuating 1.7 to 2.2. the tracking is much better than yesterday. in the coming days, mike, we should start seeing this track much more closely and if they start deviating in a big way that will get some people's

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bitwise, trading right next to you, they're 0.2%. that's a big spread.. how are you justifying this fee right now? >> fee is one consideration when investors are making a decision on an etf. remember, gbtc is a premium market that came to the market in a differentiated way. we have $28 billion in assets. we have a million investors. we have a ten-year track record. and we are going to be something that the marketplace can rely on. >> what about inflows? a lot of people are making some wild speculations about the kind of money this is going to track. they're using parallels with the gold etfs 20 years ago. is that a fair comparison? how much money, overall, do i think these etfs, collectively, act as a representative of the group, will attract in the next few months? >> bob, 30 years ago, etfs innovated with s&p 500 exposure. 20 years ago, etfs innovated with gold. today, we're innovating with bitcoin. we're really excited about it. we think this is a validation for the asset class and the sky's the limit. >> finally, just very quickly, institutions. are

look for bitwise, my friends. ♪ (upbeat music) ♪ ( ♪ ) ( ♪ ) ( ♪ ) -awww. -awww. -awww.) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. stuart: a couple dow stocks have energized the dow industrial average because it is a hundred points. it was down a hundred at "the opening bell," nasdaq looking good too up 73 as we speak. israeli forces struck hundred hamas targets in gaza in the last 24 hours. they are also laying out new plans for the next stage of the war. alex hogan, the latest please. >> reporter: loosing three rockets heading from gaza north where we are standing, the iron dome did intercept those but all day long we've seen plumes of smoke rising in northern gaza. behind me you can see the smoke mixed in with today's a is and this is despite the fact that most of his relapse forces have been targeting central and southern gaza in the last day alone. the idf has struck as many as one hundred targets, this is by land and by sea and now we are learning a little mor

look for bitwise, my friends. guy: coming up, nigel level joining bloomberg at 2:00 p.m.have been watching the fundamentals. steel, cements. prices still strong. people are accepting them as the current price structure and moving forward. yesterday, one of the risks for 2024 is really the risk of the return from a higher inflation rate. that is what is most concerning the guy: tim fiore speaking to katie and me. talking about some of the risks the federal reserve faces. remember the dovish press conference from jay powell? we are about to get the minutes from that meeting, but the data around that continues to be solid. him reinforcing that risk may be. let's talk about those fed minutes and what they will tell the markets about just how many rate cuts we will get this. year andwhere they will start chief u.s. economist joining us now. the south was that jay powell was dovish but that the data is strong. listening to plenty of people talk about the economy, how do these things fit together with what we. and are going to get in the minutes? >> i think the data are showing

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look for bitwise, my friends. i think he's having a midlife crisis i'm not.me internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is. >>> welcome back, everybody. google is shaking up the online ad business. this week, google completely remove third-party cookies that online advertisers use to track people on the internet. joining us now whether the $600 billion a year digital ad market is ready for these changes, adamson golda founder of a native advertising platform. disclosure we should mention. it powers ads on cnbc.com, but thanks for being here. this is a little bit of a complicated question. just the idea of cookies crumbling. what does that mean first of all for users of the internet? >> i think, it's interestin

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look for bitwise, my friends.: my day job is as an author relations manager for a publisher. i'm in books, and i think about stories all the time. the st. jude story, it's a beautiful, beautiful story that you can't make up. fundraising and raising awareness for st. jude is not just helping kids in the united states, it's helping kids all over the world, and that's a huge deal. what i do really does make an impact. so i love what i do for st. jude, and i just know that i'm in the right place. c'mon, we're right there. c'mon baby. it's the only we need. go, go, go, go! ah! touchdown baby! -touchdown! are your neighbors watching the same game? yeah, my 5g home internet delays the game a bit. but you get used to it. try these. they're noise cancelling earmuffs. i stole them from an airport. it's always something with you, man. great! solid! -greek salad? exactly! don't delay the game with t-mobile 5g home internet. catch it on the xfinity 10g network. here's why you should switch fo to duckduckgo on all your devie du

look for bitwise, my friends. a terrific bill to stop the border catastrophe. the democrats won't pay any attention to it, joe biden doesn't want to talk about it, but that's the solution. i'm telling you, folks, it's the biggest political issue right now. and i'm sure tha

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look for bitwise, my friends. in order for small businesses to thrive, they need to be smart, efficient, savvy. making the most of every opportunity. that's why comcast business is introducing the small business bonus. for a limited time you can get up to $1000 prepaid card with qualifying internet. yup, $1000. so switch to business internet from the company with the largest fastest reliable network. give your business a head start in 2024 with this great offer. plus, ask how to get up to $1000 prepaid card with qualifying internet. >>> welcome back. fed officials saying that 2024 will be the year of rate cuts. it is unclear when those cuts might start. we are meeting the minutes this afternoon. i'm good. are they too far apart? >> i don't think so. the fed in their statement, is exactly what you would expect them to have said. if anyone like us were responsible for that statement, the last thing the fed can do, is cut too soon. they are sending another rate message, just as they should. it can be reassuring to in

look for bitwise, my friends. katie: it is 20 past 7:00 on the west coast. get to the startup will recover the top tech stories from the bay area and beyond as silicon valley starts its morning. joining us now is ed ludlow. let's talk about disney in what bob iger is doing. it seems like a pretty good morning. ed: bob iger now has the support of value act, and activist investor, and blackwell, a small hedge fund. in quick succession one very sizable firm with an unknown but sizable stake in a small firm with a small stake in disney has basically bolstered him in his long-running dispute or activist battle with nelson peltz and trion. each party wanted different thing. it does kind of count as a pr win for bob iger. he's been under pressure since he returned as disney ceo in 2022 at the back end of the year to try to get the company. back on track nelson peltz's succession plan was a disaster. he does not like the strategy. he thinks executives are paid too much. the net result is can these two activists and supportive iger helping put together a board that a

we have had the likes of bitwise, fidelity, wisdomtree, invesco and valkyrie saying they are willing to charge free for the first six months. what's most interesting as we have seen blackrock participate in this fee waiver. they lowered from 30 basis points to 20 men the first 12 months, or until they get $5 billion. blackrock may start with the most assets on day one. they may already have $2 billion in assets. this is a historic moment because blackrock has never participated in fee waivers. this makes it interesting for all the investors because if you have 11 etf issuers, how will you know which one to pick because ultimately they track the same underlying, which is spot bitcoin. it will come down to marketing, brand awareness, and who are you partnered with. in the u.s., this fund advisory business is a $1 trillion market. if a lot of these etf's get on these platforms, there is a lot of money potentially allocated into this. people are looking at is not just, a retail a, but institutional. that's why blackrock is targeting institutional clients. crypto is a hot area right now.

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look for bitwise, my friends. family and larry: if you know who i'm talking about. but then again liz macdonald always knows who i'm talking alaska elizabeth: thank you, larry. we have breaking news coming in, reaction is now pouring in to the president's speech just a few moments ago. fox news contributor liz peek, wall street journal columnist bill mcgurn joining us. liz, the president just attacked president trump and maga republican voters. good to see you both. liz, he's saying democracy is on the ballot when democrats are trying to take trump off the ballot in a dozen states, what do you think, liz? >> here's a guy attacking his number one political opponent trying to get him thrown in jail, trying to take away his business and take him off the ballot so people can't vote for their preferred candidate. liz, this is the most hypocritical president in my lifetime. not only hypocritical. remember, he was going to bring the country together. elizabeth: he campaigned on unity and now he's really divisive, bill. when you saw this speech, were you thinking he can't r

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look for bitwise, my friends. against erosion and cavities is strong enamel- nothing beats it. new pronamel active shield actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients- it really works. ♪. larry: all right, folks, welcome back. picture this, 300,000 illegals coming across the border in a single month of december and so far nothing is being done about it. house speaker mike johnson is seeing biden's border crisis with his own eyes. he joins us from eagle pass, texas. mr. speaker, we appreciate it very, very much. i like you to hear sound from karine jean-pierre because it makes no sense at all if there is to be some kind of deal. please take a listen. >> in order to get the work done at the border we need more resources, dhs needs more resources. our border patrol agents need more resources. we need more immigration judges. we need more resources to get this done. house republicans keep getting in the way of doing the work to deal with

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you had bitwise at the bottom, charging 20 basis points.ou have gptc charging 1.5% when it comes to where we are, a year from now, what the assets and these 11 funds look like, the expectation is that this will be a winner take most environment. you will have a handful of these funds holding the bulk of the assets and to be interesting to see if we actually whittled down some of these funds. -- whittle down some of these funds. caroline: thank you so much. we can go to one of those key issuers. roger is with us. franklin templeton head of digital assets. remind us of the fees, remind us of why you think you are going to survive the at least 11 that we have. >> i would point to bloomberg's own research, if people need to go to bloomberg to see how these line-up. you need to look at the longer term of where this goes. this is been a very dynamic issuing environment over the past several days and weeks and we expect that the dust will settle in the+ ahead -- in the period ahead. this is a page that has been turned in this chapter. accessibilit

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look for bitwise, my friends. stuart: plenty of red ink, left-hand side of the screen. in shah gallon canny who used to be the king of dip buying. shah ghailani. this is a dip. are you buying it? >> not, we're not done yet. i think we can go a little bit lower, but, absolutely, i'm in buy the dip mode. s this is, to me, just a bit of overbought territory here as far as -- everything, bonds have been overbought, stocks have been overbought, a.i. hype has been overbought. there's a lot of overbought situations here. it's not unusual for the markets to take a breath. we can't go up all the time. i think we are in positive bull mode. i think buy the dips is found to be the theme for 2024. and not unlike 2023, i think we'll probably end up having a solid january. so i think as one of the old wall street adages is as january goes, so goes the market. that was certainly true last year. and each though we had -- even though we had a lot of bumps, i'm not saying we're not going to have bumps in 2024, stuart, but i think at the end of the year we're going to have another spectacu

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look for bitwise, my friends. guy: let's talk about the christmas season. did you go out shopping? did you go out shopping? we are starting to get an idea of the answers to those questions. next raising its guidance. tesco and sainsbury also appeared to have had a good season. jd sports, that update was not taken well by the markets. i have to say in my house two pairs of trainers arrived before christmas. not for me, for my children. air force ones. andrea felt that arriving out to talk us through this story. why the difference between jd and next? what does it tell us about the consumer? andrea: the consumer is cautious, but they have gone out and spent. next is a very solid, it is probably britain's best run. it has modern stores. it has a muscular online business. one of the leaders in online. but it is very solid. you don't go to next for high fashion. it is solid, stable workwear, partyware, home furnishings. it has lots of other brands as well. guy: you are really selling it. andrea: it is a fantastic retailer. jd is exposed to trends going in the wrong direction. you have y

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look for bitwise, my friends. >> we are 15 minutes from the closing bell.istina for the stocks she is watching. >> peloton. a big day for fitness creator peloton. it is partnering with tiktok to bring short form videos and other content to social media. a new battery test results charging up quantum scape stock. the lighter vehicle battery maker is up nearly 50% today. the volkswagen subsidiary announced it had completed a test of quantum scape solid- state lithium battery for electric vehicles, and the results are encouraging. a vote of confidence causing the stock to soar. >> allig, chsta, rhtriin thank you. up next, netflix shares are higher. we will find out what is behind that move. closing bell is right back. all right, tandy, what's it gonna be, the drink made from whatever was laying around, or the one made with your drizzly haul? drizly! stock up today, sip well, tomorrow. during my entire life i have been somewhat of an outdoors person. golf, gardening around here. how can i stay out of the sun? so about two years ago i was diagnosed with basal ce

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look for bitwise, my friends.lar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap. [ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything. stuart: donald trump's new york civil trial wrapped up yesterday with closing arguments. c.b. cotton with us now. when can we expect the judge's decision? >> reporter: well, stu, the judge says his written ruling could come by the end of the month. and while we wait for it, trump says the case and all of his legal troubles are a big setup. >> my legal issues, every one with of them, every one, civil and the criminal ones, are all set up by with joe biden, crooked joe biden. >> reporter: now, trump is facing six cases ranging from defamation allegations to election interference and insurrection. he says that he wants to attend all of his upcoming trials in person. his defamation lawsuit with e. jean carroll is set to start next week in new york

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